Trex sales up 18%Friday 26 May 2017 Trex Company (the world’s largest manufacturer of high performance wood-alternative decking and railing and stocked in more than 6,700 retail locations worldwide) have reported financial results for the first quarter ended 31 March 2017. Net sales for the first quarter of 2017 were US$144.8 million, 10% above last year’s first quarter results.“Industry analysts continue to project that the growth rate for wood-alternative decking and railing will outpace the overall market. With advancements in all-weather materials and furnishings that enable the outdoors to act as an extension of the home, we believe Trex, as the market leader in high-performance, wood-alternative decking, railing and accessories, is very well positioned to benefit from the projected increase in demand for functional outdoor living spaces”, said James E. Cline, President and Chief Executive Officer. “In 2017, we will expand our successful marketing and advertising campaigns that emphasize the advantages of composite decking over traditional wood as well as the environmental benefits of our products. Continued market share gains and favorable gross margin impacts are expected to benefit full year 2017 results. In the second quarter of 2017 we expect to achieve revenues of $160 million. Our expectation for incremental gross margin is now expected to be in excess of 50% for full year 2017,” Mr. Cline concluded. Source: Trex Co. Inc. |
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